Bulletin: Macquarie's Diversity Supports Earnings

MELBOURNE (S&P Global Ratings) May 7, 2021--Australia-headquartered Macquarie Group Ltd.'s (MGL; BBB+/Stable/A-2) well-diversified business will continue to support the financial services group's earnings, S&P Global Ratings said today. The group announced today that its net profit for the full year ended March 31, 2021, increased by 10% over fiscal 2020, largely driven by a 39% increase in profit contribution from its market-facing commodities and global markets business. In our view, the consolidated group's capital surplus of A$8.8 billion as of March 31, 2021, and well-diversified earnings streams, will provide it a substantial buffer for navigating COVID-19 uncertainty and market volatility, and capacity for business growth where opportunities arise. We expect that MGL will maintain its sound underlying profitability despite these

...May 6, 2021 MELBOURNE (S&P Global Ratings) May 7, 2021--Australia-headquartered Macquarie Group Ltd.'s (MGL; ###+/Stable/A-2) well-diversified business will continue to support the financial services group's earnings, S&P Global Ratings said today. The group announced today that its net profit for the full year ended March 31, 2021, increased by 10% over fiscal 2020, largely driven by a 39% increase in profit contribution from its market-facing commodities and global markets business. In our view, the consolidated group's capital surplus of A$8.8 billion as of March 31, 2021, and well-diversified earnings streams, will provide it a substantial buffer for navigating COVID-19 uncertainty and market volatility, and capacity for business growth where opportunities arise. We expect that MGL will maintain its sound underlying profitability despite these uncertainties. We forecast that Macquarie Bank Ltd. (MBL; A+/Negative/A-1) will remain strongly capitalized and maintain our risk-adjusted capital...

Bulletin